Solar Markets & Finance News

EliTe Solar, formerly ET Solar, is a Chinese solar panel company operating a 3.5 GW manufacturing plant in Vietnam and Cambodia and a US-based sales division. Constructing a 5-GW silicon ingot and wafer manufacturing facility, EliTe Solar is dedicated to providing customers with high quality solar products and services.

Acwa Power Co. is expanding to China and other Asian markets in 2022, focusing on desalinization, power plants and renewable energy. The move is part of the company's global expansion and carbon emission neutralization plans. CEO Marco Piero Arcelli, appointed in 2021, is driving the firm's ambitions to also build partnerships and establish operations in Europe and Saudi Arabia.

Octopus Investments Australia raises AUD 250 million for its renewable energy fund, OASIS. With contributions from Hostplus, CEFC and Sky Renewables, plus a new investor Rest, total funds raised now stand at AUD 550 million. Octopus manages a platform of assets worth AUD 1 billion.

Encavis AG expands its Spanish solar portfolio to 583 MW with the acquisition of a 28-MW solar park project in Castile and Leon. Completion of the project will generate 50 GWh of electricity annually for large industrial clients. Encavis plans to reach 8GW of European wind and solar assets by 2027.

Qualitas Energy has completed a €280m refinancing operation on the 500MW Mula photovoltaic solar plant in Spain. BBVA, EDC, DekaBank, Unicaja and Bankinter participate in the "Green Loan Principles" classified loan. Qualitas is a leader in renewable energy investment and management since 2006.

Octopus Australia and Indigenous groups sign agreement to co-own renewable energy projects, estimated to be worth up to AUD 1 billion. Agreement includes revenue sharing, co-ownership and skills training to reduce Australia's carbon footprint and provide employment opportunities.

ACEN and its partner agree to invest up to USD 100 million in a new joint venture. Read on to find out more about the exciting collaboration.

Latin America is becoming a key market for solar power. Sungrow, a leading inverter and energy storage system supplier, has achieved 15 GW of orders, largely driven by Brazil. The Company has introduced several innovations and is looking to capitalize on the expected upward trend in the region.

EiDF acquires 238 MWp of solar projects in northern Spain, including two large-scale projects with an EIS in place. Commitment to smaller-scale projects remains for commercial and industrial customers.

TotalEnergies SE and Ronesans Holding joint venture will enable TotalEnergies to become one of the leading players in the Turkish renewable energy sector. European Commission approves of this agreement due to its limited impact in EEA.

ACWA Power has closed financing for 200MW Kom Ombo solar project in Egypt, with $123 million of the total $182 million investment coming from international institutions. In January 2024, the plant will provide electricity to 130,000 households and help Egypt meet its 2035 goal of 42% renewable energy.

HASI and Summit Ridge Energy will partner to develop 250MW of community solar projects in Illinois and Maryland over the next two years. The projects will use US-made solar panels & 20MWh of energy storage from the Hanwha Group-owned Qcells. Investment tax credits and the Inflation Reduction Act will apply.

INVEX Controladora SAB de CV agrees to selling remaining stake in 216 MWp solar farm portfolio in northwestern Mexico for USD 50 million. Regulatory clearance needed and proceeds to reduce debt and make new investments.

Encavis AG has announced the purchase of a 12MW/24MWh battery storage project in Hettstedt, Germany. The energy storage system will be integrated into the grid in 2024 and will store electricity from Encavis' renewable power facilities, reducing the cost of balancing energy. Mario Schirru, Encavis' Chief Investment Officer, highlighted the new plant's ability to generate more revenue from their Renewable Energy. First half of 2023 results reported flat revenue and earnings per share.

Voltalia has successfully commissioned a 50.6 MW solar cluster in Portugal, reducing 46,685 tonnes of CO2 emissions annually. With long-term PPAs and an agreement with Renault, Voltalia is leading the way in renewable energy and looking to expand its presence.